“Should I Repair or Replace my old car?” We just had a customer come asking that same question, so what is the right answer. It’s not an easy answer, but there are a number of questions you should be asking yourself. Part of this answer is in the math, and the other is just taking a look at your personal situation. Should you stick with your tried and true car, or get a new or(new to you) car.?
Do the math: How much are you paying in maintenance? Is it just a couple hundred dollars in regular maintenance which is less then a new car payment. Even buying a used car (make sure you aren’t buying one that has the same or more problems), if you still have payments on the one you are driving you will lose the money you’ve put in your existing vehicle. Can you do some of the repairs yourself? Simple things like checking fluids(adding more when levels are low), changing your oil, spark plugs, replacing your air filters with a little research you could do these minor fixes yourself. Google your car’s make, model and year on how to do your own repairs. Bigger issues should be handled by a mechanic you trust. Will the major repair add life to your car? How much is your peace of mind worth? Finally consider your budget. Don’t let your broken down car make your decision, you should decide when you need another vehicle ahead of time. I’m driving a 2000 Honda Odyssey, has almost 350,000 miles, we’d like to go another year or so, which we can. One of the reasons is that I get regular maintenance, if I hear something that doesn’t sound right I go and talk to my trust worthy mechanics.